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LUXURY HOMES AUSTRALIA

QUEENSLAND FIRST HOME OWNER GRANT

 Families Are Taking Advantage Of The First Home Buyers Grant 

$10,000 to $20,000 First Home Owner Grant*

Up to $34,000 Stamp Duty Assistance Scheme*

First Home Loan Deposit Scheme – 5% Deposit*

1.   Full (or Partial) Exemption on Stamp Duty*

Stamp duty exemptions where the property is valued at less than $600,000. Properties valued between $600,000 and $750,000 also receive a concessional rate.

2.   Increased Government Support*

The new Home Builder Grant provides a further $25,000 towards new homes. In addition, an increase to the First Home Loan Deposit Scheme by 10,000 places allowing First Home Buyers to enter the market with deposits as low as 5% (without the need to pay LMI). by 10,000 places allowing First Home Buyers to enter the market with deposits as low as 5% (without the need to pay LMI).

3.   Lower Interest Rates*

Record low interest rates will stay low for an extended period with the cash rate remaining at the historic low of 0.25%.

*Terms and conditions apply.  

$10,000 to $20,000 First Home Owner Grant

 

The Queensland First Home Owners’ Grant is a state government initiative to help first home owners to get their new first home sooner.

If your contract is dated 1 July 2018 or later, you can get the Queensland grant of $15,000 towards buying or building your new house, unit or townhouse (valued at less than $750,000). The grant is paid per new home; not to each of the applicants for the same home.

The grant amount has varied since it was first introduced in 2000. Contracts dated earlier than 1 July 2018 may still be eligible for a grant.

You can buy off the plan or choose to build yourself.

To be eligible for the grant:

  • You must be at least 18 years of age.
  • You must be an Australian citizen or permanent resident (or applying with someone who is).
  • You or your spouse must not have previously owned property in Australia that you lived in.
  • You must be buying or building a brand new home.
  • The value of the new home including the land is less than $750,000.
  • You must intend to move into the new home as your principal place of residence within 1 year of the completed transaction and live there continuously for 6 months.

Your first home can be a house, townhouse, apartment, unit or similar. The amount paid for the home, that is the contract price for construction when building the home, must be $750,000 or less. It must also be the first sale of the property as residential premises and the home must be less than five years old.

It cannot be an investment property or a holiday house. ​The FHOG may be paid in addition to other exemptions or concessions for eligible homebuyers, including pensioners.

The timing of your FHOG payment depends on the contract you sign to buy or build your new home, and whether you lodge your application directly with us or via an approved agent.

The First Home Owners Grant (FHOG) is a payment from the Australian Government. It is a genuine grant that you don’t have to repay; nor do you pay interest on it. Empire Homes Australia will guide you through the entire application process for the First Home Owners Grant.

Click Here to Learn More and Here  

 First Home Buyer Duty Exemption, Concession Or Reduction

You can claim a first home concession for transfer duty when acquiring your first residence if you meet certain requirements.

The first home concession only applies to a home valued under $550,000 and can save you up to $15,925. The home concession may still apply for a home valued over $550,000.

You do not have to be an Australian citizen or permanent resident to claim a concession, but you must meet the eligibility criteria. Additional foreign acquirer duty may apply if you are a foreign person.

Eligibility

To be eligible for a first home concession when you buy or acquire a home, you must: 

  • have never claimed the first home vacant land concession
  • have never held an interest in another residence anywhere in Australia or overseas
  • be at least 18 years of age (we explain below when we may waive this requirement)
  • move into it with your personal belongings and live there on a daily basis within 1 year of settlement (this time cannot be extended)
  • not dispose (sell, transfer, lease or otherwise grant exclusive possession) of all or part of the property before you move in
  • be paying market value if the residence is valued between $500,001 and $549,999.

To keep the benefit of the first home concession in full after you move in, you must not dispose of all or part of the property within 1 year. A partial concession may apply if you dispose within 1 year. 

Use our home concession eligibility tester to find out if you are eligible to claim the home concession or first home concession. 

For more information, read the public ruling on occupancy requirements for homes and first homes (DA085.1). 

Click Here To Learn More 

First Home Loan Deposit Scheme (FHLDS) 

Overview

The First Home Loan Deposit Scheme (FHLDS) is an Australian Government initiative to support eligible first home buyers to build or purchase a new home sooner. The Scheme is administered by the National Housing Finance and Investment Corporation (NHFIC).

Usually first home buyers with less than a 20 per cent deposit need to pay lenders mortgage insurance. Under the Scheme, eligible first home buyers can purchase or build a new home with a deposit of as little as 5 per cent (lenders criteria apply). This is because NHFIC guarantees to a participating lender up to 15 percent of the value of the property purchased that is financed by an eligible first home buyer’s home loan.

In the 2020-21 Federal Budget, the Australian Government announced an additional 10,000 FHLDS places for the 2020-21 financial year, specifically for eligible first home buyers building or purchasing new homes. These additional places are known as the First Home Loan Deposit Scheme (New Homes) or FHLDS (New Homes).

There are currently 27 participating lenders across Australia offering places under the First Home Loan Deposit Scheme.

To find out more information about the First Home Loan Deposit Scheme and the FHLDS (New Homes), please select an option below: 

New Homes

In the 2020-21 Federal Budget, the Australian Government announced an additional 10,000 FHLDS places for the 2020-21 financial year, specifically for eligible first home buyers building or purchasing new homes. These additional places are known as the First Home Loan Deposit Scheme (New Homes) or FHLDS (New Homes).

Eligible first home buyers can use the FHLDS (New Homes) guarantee in conjunction with other government programs like the First Home Super Saver Scheme, HomeBuilder grant or state and territory First Home Owner Grants and stamp duty concessions.

The guarantee is not a cash payment or a deposit for your home loan.

Find out if you may be eligible

Search property price caps for your area

Apply with a participating lender

Eligible FHLDS (New Homes) properties

Under the FHLDS (New Homes), first home buyers can build or purchase a new home, including:

  • newly-constructed dwellings
  • off-the-plan dwellings
  • house and land packages
  • land and a separate contract to build a new home.

Specific dates and requirements apply for the different property types.

There are particular requirements and time frames which apply for each type of property. 

To find out more information about the First Home Loan Deposit Scheme and the FHLDS (New Homes), 

Click Here to Learn More  

 

Luxury Homes Australia have assisted our clients to use property as a vehicle to create substantial wealth. Insightful well-managed property investment provides ongoing income, capital growth and tax advantages.

Phone:

Mobile: 0409 255 072
Office 1300 680 690

Address:

Level 13/50 Cavill Ave.
Surfers Paradise QLD 4217

Email:

info@houlamation.com

With over 10 years of Property Market Intelligence and Experience we empower First Home Buyers and Property Investors to buy their Property with Knowledge

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With 10 years of experience and working with many Developers all over Australia.        Luxury Homes Australia knows how to help you to succeed in the property market.

CONTACT US

Mobile: 0409 255 072   Office 1300 680 690
info@houlamation.com
Level 13/50 Cavill Ave. Surfers Paradise QLD 4217

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